The Gold Report

Orezone Gold Corporation TICKER: ORE:TSX Visit Company Website Orezone Gold Corporation is a gold exploration company whose 100%-owned Bomboré gold project has world-class potential. Situated 85 km east of the capital of Burkina Faso and adjacent to a highway, Bomboré has 1.6 Moz Indicated and 1.9 Moz Inferred resources constrained within optimized open-pit shells that span 11 km and have an average drill depth of only 60m. A 170,000m drill program to significantly expand resources and support the completion of feasibility studies in 2012 is consistently demonstrating higher grades and improved continuity. Click here to listen to ORE's webcast from the Precious Metals Summit

The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Analysis

The Gold Report Interview with Paolo Lostritto (4/30/12) "Although the market is shying away from low-grade deposits in this current environment of increasing capital and operating costs, Orezone Gold Corp. has the advantage of having a soft rock development component, which should result in a lower capital cost and operating intensity. We expect the feasibility study to focus on these advantages and yet still produce a soft rock reserve close to 2 Moz. . .in my mind's eye, the real value-added opportunity is demonstrating soft-rock versus hard-rock ounces. The company should be able to add value through its soft-rock development." More >

Paolo Lostritto, National Bank Financial (4/3/12) "With 80% of Orezone Gold Corporation's drilling complete, cut weighted average grades continue to exceed 1.03 g/t. . .this compares with our modeled estimate for the soft rock resource at 0.76 g/t. . .we believe the market will focus on the size and grade of the soft rock ore to assess the company's valuation. . .we reiterate our Outperform rating."

Andrew Breichmanas, BMO Capital Markets (4/2/12) "Orezone Gold Corporation reported results from the recently completed 215,000m drill program at its Bomboré project. . .overall, the results suggest good continuity, widths and grades, which should support resource additions and upgrades. . .current Indicated resources at Bomboré total 60.9 Mt grading 0.81 g/t for 1.589 Moz, including 44.3 Mt at 0.8 g/t for 1.141 Moz in the northern portion of the deposit. . .Bomboré continues to offer appeal."

Pope & Company (3/30/12) "Orezone Gold Corporation completed its 215,000m infill and expansion drill program at its Bomboré gold project in Burkina Faso, West Africa. In December 2011, Orezone approved a 2012 budget of US$16M to continue exploration activities at Bomboré that will include further expansion and exploration drilling beyond the 215,000m program; Orezone is well financed and on schedule to complete its planned exploration and development work in 2012 including a resource update for Bomboré in Q212 and a Bankable Feasibility Study in Q412."

Brian Christie, Desjardins Securities (3/30/12) "Orezone Gold Corporation has completed the 215,000m infill and expansion drill program at its 100%-owned Bomboré gold project. . .an updated NI 43-101 Bomboré resource is expected in Q212, to be followed by a bankable feasibility study in Q412. . .we view today's news as positive, and believe the new drilling results will improve and upgrade the current resource of 3.5 Moz at Bomboré; we reiterate our Buy rating."

• Click Here to View Orezone's Investor Briefcase (presentation, fact sheet and more)

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